AN INITIAL 12,000 metric tons (MT) of “A” or US sugar have been converted to “D” or world market sugar, an official from the Sugar Regulatory Administration (SRA) said yesterday.
Aug 192013
Aug 022013
THE COUNTRY’S palay production for the first half of the year jumped by 1-2% year-on-year to 8-8.1 million metric tons from 7.89 million MT in the same period last year, an Agriculture official said in an interview Thursday.
Jul 302013
MANILA, Philippines – Cement sales went up six percent in the first semester from a year ago due to increased construction activities, the Cement Manufacturers Association of the Philippines (CeMAP) said. CeMAP data showed total cement sales reached 10.136 million metric tons (MT) in the January to June period, higher than the 9.546 million MT sold in the same period last year. For the second quarter alone, cement sales rose bnine percent to 5.349 million MT compared to the previous year’s 4.916 million MT. In a text message, CeMAP president Ernesto Ordonez said among the reasons for the higher sales are “government’s increased budget for infrastructure (and) continued business confidence of private sector in government resulting in increased commercial, residential and other private sector construction.” Earlier, he said higher cement sales are expected this year compared to a year ago as construction works continue to pick up. Lafarge Cement Services (Philippines), Inc. president Don Lee also said earlier that even as construction activity is seen to rise given the country’s strong economic growth, cement manufacturers are ready to provide supply. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Cement manufacturers, he said, are currently expanding their output.
Jul 162013
MANILA, Philippines – A group of bakery owners and bread producers warned that prices of Pinoy pandesal, other bread products, biscuits and noodles would increase by 10 to 15 percent, if the government gives in to the demand of an influential lobby group to restrict the entry of affordable flour from Turkey. The Filipino-Chinese Bakery Association Inc. (FCBA), the group of bakery owners or producers of bread, noodles, cakes, pastries, pizza, siopao, pandesal, cookies, and biscuits from Luzon, Visayas and Mindanao, said imposing a higher tariff on flour imported from Turkey would increase the price of Pinoy pandesal by 50 centavos to P3.50 per piece from the current P3 apiece. Pinoy pandesal is the brand of affordable bread products produced by small community bakers. “Because of cheaper Turkish flour, Filipino consumers enjoy lower priced breads and other flour-based products such as dry noodles, biscuits and fishballs,” the FCBA said. The FCBA said flour represents more than 50 percent of the total cost of bread production, and an increase in the price of flour would automatically translate to higher prices of bread. “There are 25,000 bakeries operating in the Philippines and many small and medium-sized bakeries are using lower priced flour for them to offer breads within the reach of the Filipino consumers,” the FCBA said. The FCBA said the Philippine Association of Flour Millers Inc. (PAFMIL), which has monopoly of the local flour market, is using its influence on the government to push the Turkish flour out of the country Read More …
Jul 152013
MANILA, Philippines – Small flour millers are asking the Department of Agriculture (DA) to investigate the alleged dumping of Turkish flour into the country. The Philippine Association of Flour Millers (PAFMIL) yesterday said it filed a petition before the DA in May seeking a public hearing on the issue and to coordinate with the Tariff Commission to institute safeguards against the supposed dumping of Turkish flour. “We asked the DA to look into the matter and conduct a public hearing. Afterwards, it can coordinate with the Tariff Commission to put in place the necessary safeguards,” said PAFMIL executive director Ric Pinca. “We hope to get a favorable ruling because we believe we have a strong case.” PAFMIL alleged that Turkish flour exportation to the Philippines at dumping prices violates World Trade Organization (WTO) rules. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Dumping occurs when a country exports a commodity at prices lower than its domestic prices. “When a country exports products at dumping prices, it is engaged in unfair trade. Thus, we are up against a group of flour exporters engaging in unfair trade,” said Pinca. PAFMIL noted that in 2010, average export price of Turkish flour was $276 per metric ton while their domestic price was $600 per MT. In 2011, export price was at an average of $388 per MT against Turkish domestic price of $600 per MT. Last year, it was $340 against their domestic price of $470 per MT. PAFMIL said Turkish flour exports Read More …
Jul 022013
THE DEPARTMENT of Agriculture (DA) is planning to export another batch of long-grain, aromatic rice this month to Indonesia and Malaysia as the agency targets a trial shipment of 100 metric tons (MT) in 2013.
Jun 122013
MANILA, Philippines – Most industrial crops registered lower production volume in the first quarter of the year due to plant diseases, and devastation caused by typhoon Pablo in the tail end of 2012, according to the Bureau of Agricultural Statistics (BAS). In its January to March 2013 Non-Food and Industrial Crops Quarterly bulletin, BAS noted increased production in coconut, tobacco and sugarcane while decreases were seen for abaca, coffee, rubber during the period. Abaca production in the first quarter of the year fell 8.13 percent to 15, 652 metric tons (MT) against 17,037 MT in the same period last year. BAS noted that several municipalities in Leyte and Southern Leyte are still affected by bunchy top disease causing production in Eastern Visayas to fall 11.42 percent. Also affected by the bunchy top disease were farms in Zamboanga Sibugay, particularly those under the Goodyear Agrarian Reform Beneficiaries Multipurpose Cooperative (GARBEMCO), where production fell 31.50 percent during the period. BAS said, however, that there were efforts to eradicate the disease. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Abaca farmers in Aklan were also discouraged by weak trading, causing production in the province to drop 49.31 percent. Production in Davao Region and Caraga fell 30.57 percent and 10.12 percent respectively due to the onslaught of typhoon Pablo, the most destructive typhoon to the agricultural sector in 2012. Favorable weather conditions, on the other hand, resulted to higher abaca production in Catanduanes by 4.16 percent and in Bicol Region by 41.59 percent. Read More …
Jun 062013
MANILA, Philippines – The country’s cocunut oil exports rose 83 percent to 136,985 metric tons (MT) in May from 74,613 MT a year ago due to a strong demand for the commodity in key markets, the United Coconut Association of the Philippines Inc (UCAP) reported yesterday. The rise in May shipments followed a 14.2 percent drop in April. UCAP executive director Yvonne Agustin said demand from key markets such as the US and Europe picked up in May as CNO price remained lower than palm oil, its main competitor in the market. In May, CNO was priced at an average of $811 per MT while palm kernel oil was priced at $852 per MT. CNO enjoyed a greater pricing advantage over another competitor in the market, soybean oil which was priced at $1,000 per MT in May. Agustin said demand is expected to pick up in the coming months as buyers replenish stock requirements. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 UCAP expects CNO shipments to reach 900,000 MT within the year, higher than 851, 913.18 MT shipped in 2012 and 821, 445.37 MT in 2011.
Mar 032013
MANILA, Philippines – The Philippines could potentially ship sugar to India, Korea, Indonesia and the Middle East, according to the Sugar Regulatory Administration (SRA). In an announcement on its website, the SRA said state-owned Philippine International Trading Corp. (PITC) has identified export opportunities for refined and raw sugar from these countries. PITC, established in 1973, is the only state-owned international trading corporation mandated to promote local export commodities especially those from small and medium enterprises and undertake bulk importation of strategic raw commodities to secure domestic supply and stabilize local prices. Only buyers from India and Korea have so far provided specifications. The SRA said PITC’s potential buyers from India are interested in procuring an initial 100 to 200 metric tons (MT) of refined sugar of S-30 and M-30 grade. The volume may increase to 500 to 800 MT, expanding to between 1,000 to 1,500 MT by the second semester of 2013. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Buyers from Korea are interested in procuring 1,500 MT of refined white sugar per month. The sugar content per shipment should be 90 percent with a brightness of 19 to 20. Korean buyers are also interested in importing 12,500 MT of raw sugar monthly with a trial shipment of 3,000 MT to 5,000 MT. The Philippines intends to produce 2.356 million MT of sugar for crop year 2012-2013. The SRA is currently implementing measures to help farmers increase productivity and lower production costs ahead of the implementation of free Read More …
Feb 192013
MANILA, Philippines – The mining unit of Consunji-led DMCI Holdings Inc. has beefed up its stake in a London-based nickel miner for £24 million. In a disclosure to the stock exchange, DMCI Holdings said its wholly-owned subsidiary DMCI Mining Corp. jacked up its shares in Toledo Mining Corp. Plc to 37.7 percent from 17 percent. “The offer will comprise 50 pence in cash for each Toledo share, valuing the whole of Toledo’s existing issued share capital at approximately 24.9 million pounds,” DMCI said. The purchase price represents a premium of 66 percent from 30 pence, the weighted average price for the past three months. DMCI Mining bought the entire 20.7- percent share in Toledo held by investor Jason Cropper using its existing cash. “As a result, DMCI Mining confirms that it will make a mandatory cash offer to acquire the entire issued and to be issued share capital of Toledo not already owned by DMCI Group,” the company said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “Our offer to the remaining Toledo shareholders represents an attractive opportunity to crystallise a significant premium to the prevailing market price in cash today,” said DMCI Mining president and CEO Isidro Consunji. Toledo has strategic shares in four large nickel deposits in Palawan through joint venture agreements and owned properties. Specifically, the London Stock Exchange-listed miner owns shares in the Berong and Ipilan nickel mines, and Long Point and Moorsom nickel properties. For its fiscal year that ending March 2012, Toledo posted Read More …